Nov 28, 2018
The Company as a part of its strategic plan has sold its old vessel M.T. Vedika Prem, built 1993, for a total consideration of Rs 28.54 Crore and the proceeds of which would be used to meet its debt obligations/ liabilities. The deal was concluded today.
The buyer does not belong to Promoter/ Promoter Group Companies.
The aforesaid transaction does not fall within the definition of related party transactions and not a material related party transaction.
Mercator Limited, press release